Morgan Stanley Pathway Funds - Small-Mid Cap Equity ETF

Frequently Asked Questions About MSSM

What does MSSM invest in?

MSSM primarily invests in equity securities of mid- and small-cap companies or other investments with similar economic characteristics. The fund defines these companies as those with market caps not exceeding the highest month-end market cap value of any stock in the Russell 2500 or Russell Mid Cap Index for the previous 12 months. To construct the portfolio, the fund employs a multi-manager strategy, with portions of the fund allocated to professional money managers who are responsible for investing the fund's assets. The fund may allocate up to 10% of its assets in foreign securities not traded on a US exchange or the US over-the-counter market. To generate additional income, the fund may lend portfolio securities. On December 9, 2024, MSSM converted from a mutual fund to an ETF structure, starting with $499 million in assets.

What is the expense ratio of MSSM?

Morgan Stanley Pathway Funds - Small-Mid Cap Equity ETF (MSSM) charges an expense ratio of 0.89%. This is the annual fee deducted from fund assets to cover management and operations.

How big is MSSM?

Morgan Stanley Pathway Funds - Small-Mid Cap Equity ETF (MSSM) manages $691.6M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is MSSM actively managed or an index fund?

MSSM is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (MSSM's is 0.89%) in exchange for the discretion to over- or under-weight positions.

When was MSSM launched?

Morgan Stanley Pathway Funds - Small-Mid Cap Equity ETF (MSSM) launched in November 1991 and is managed by Morgan Stanley.

How has MSSM performed?

MSSM's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.